All Posts Tagged With: "Buffett"
America’s major banks now hold derivatives with a notational worth of $225 trillion – about a third of the world total. No kidding. Trillion. And that’s up from a mere $120 trillion six years ago. Rather than being weened off derivatives, America’s big banks are more deeply entrenched then ever. Hopefully Wall Street has it figured [...]4Oct2012 | Peter G. Miller | 1 comment | Continued
Should the incomes of the rich and famous be taxed on the basis of the Buffett Rule? That’s the latest question on the political front, a question which explains just how distorted our political conversation has become. The Buffett Rule would tax incomes of $1 million or more at the rate of at least 30%. [...]16Apr2012 | Peter G. Miller | 0 comments | Continued
Gas prices are rising in the US and it makes you wonder: will mortgage rates soon be rising as well? The questions are not unrelated. In basic terms the price paid for gasoline at the pump has very little to do with the actual cost of production, refinement and distribution. However, the price paid at [...]27Feb2012 | Peter G. Miller | 0 comments | Continued
Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures [...]3Oct2011 | Peter G. Miller | 0 comments | Continued
It was in the 1880s that long-term interest rates hit 3.5 percent, something we may soon see with mortgages. Mortgage borrowers are now seeing home loans at not much more than 4 percent for 30-year, fixed-rate mortgages. And, reports HSH.com, 15-year loans are already below 4 percent. The lower rates result in substantially reduced monthly [...]23Sep2011 | Peter G. Miller | 1 comment | Continued
With newsstands dominated by scary headlines, Hollywood break-ups and still more diet plans, Harper’s magazine is typically somber and understated. However, for those with an interest in real estate the May 2006 issue offered a jarring cover story that’s tough to ignore: “The New Road to Serfdom: An illustrated guide to the coming real estate [...]19Sep2008 | Peter G. Miller | 0 comments | Continued